i was gonna add more thoughts in this tweet but i kept discarding it and rewording. Then i just decided that it just says enough. Never felt a movement like this before.
Argonauts just crossed 7,000 ETH in secondary volume. 🚣
It took roughly 44 days!
For context:
@doodles → 10K ETH in 5 days
@moonbirds → 43K ETH in the first 24h
@argonauts9999 → 7K ETH in 44 days
Different eras, different markets, but one thing is clear!
7K ETH is still a serious milestone!
Argonauts is already sitting among the most traded collections of this cycle.
In previous cycles, collections could reach massive volumes simply riding an unprecedented wave of liquidity.
Today, collections have to earn attention, create conviction and keep collectors moving.
Argonauts has done exactly that.
7,000 ETH isn’t just a number.
It’s a signal.
A signal that great art, a strong artist and a real collector culture can still cut through one of the toughest NFT markets we’ve seen!
We’re only at the beginning of the voyage 💀
No serious builder should ever tell people to farm their protocols or say they will make users rich. It’s one thing to include loyalty points for power users, and hint potential rewards/airdrop/TGE. You don’t see uniswap telling people to use it because airdrop was coming. People used uniswap because it was a superb product, and after that they dropped every user $uni no questions asked.
Problem with abstract was simple, no one would have used it if luca didnt dangle the carrot so hard, told them to farm xp, told them he’s going to make everyone who use it rich, streamers filthy rich.
You could also say @opensea made people farm, but like uniswap, opensea has a product everyone enjoys using, a monopoly market on nft. Whether or not opensea drops a token, we’d still be using it. Thats the main difference, between abstract and other things. Some people also say no one forced u to farm, own your decisions, like memecoins etc, honestly this is quite different. Pumpfun and fomo markets their platform, they dont tell people to buy coins or do specific action. Abstract team clearly told people to farm the XP and token is coming, and then scrapped TGE. That is fraud.
People also say, they took the honorable road by not doing TGE and have token go to 0, thats not the issue isnt it? You told everyone to farm TGE and then don’t, that is not honorable. And, any point in time in 2 years you knew your useless L2 if TGE would go to 0, but still urge everyone up til the last minute to keep farming xp and trust? Up until lead dev cygaar bridges out of the chain without saying anything else before setting the building on fire?
Lol. This is the end for penguins, imo.
@catmoneyz another good take. Makes me think of what megaeth once said about many chains borrowing liquidity while paying out interest in incentives. When the incentives die, the liquidity dries and the chain dies.